Salem Investment Counselors Inc. lifted its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,209 shares of the credit services provider’s stock after purchasing an additional 4,413 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Paypal were worth $3,917,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AXA raised its position in shares of Paypal by 68.4% during the third quarter. AXA now owns 382,248 shares of the credit services provider’s stock worth $24,475,000 after purchasing an additional 155,268 shares during the period. Grassi Investment Management raised its position in shares of Paypal by 54.5% during the fourth quarter. Grassi Investment Management now owns 4,943 shares of the credit services provider’s stock worth $364,000 after purchasing an additional 1,743 shares during the period. Cornerstone Capital Inc. raised its position in shares of Paypal by 48.6% during the fourth quarter. Cornerstone Capital Inc. now owns 31,963 shares of the credit services provider’s stock worth $2,353,000 after purchasing an additional 10,460 shares during the period. Crestline Management LP acquired a new stake in shares of Paypal during the third quarter worth about $2,304,000. Finally, Private Advisor Group LLC raised its position in shares of Paypal by 15.3% during the third quarter. Private Advisor Group LLC now owns 56,374 shares of the credit services provider’s stock worth $3,720,000 after purchasing an additional 7,463 shares during the period. 80.56% of the stock is currently owned by institutional investors.
PYPL has been the topic of a number of recent research reports. Cantor Fitzgerald reissued a “buy” rating and issued a $85.00 target price on shares of Paypal in a research report on Thursday, February 1st. Vetr raised Paypal from a “hold” rating to a “buy” rating and set a $80.21 target price on the stock in a research report on Wednesday, November 29th. Zacks Investment Research raised Paypal from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Wednesday, December 20th. BidaskClub lowered Paypal from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 25th. Finally, Goldman Sachs reissued a “buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of Paypal in a research report on Thursday, December 21st. Nine investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $77.33.
In related news, VP Aaron Anderson sold 9,367 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $77.84, for a total value of $729,127.28. Following the completion of the sale, the vice president now directly owns 18,480 shares in the company, valued at approximately $1,438,483.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aaron Karczmer sold 5,674 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $77.51, for a total value of $439,791.74. Following the completion of the sale, the executive vice president now owns 23,909 shares of the company’s stock, valued at $1,853,186.59. The disclosure for this sale can be found here. Insiders have sold a total of 196,413 shares of company stock valued at $15,348,028 over the last quarter. 6.00% of the stock is currently owned by corporate insiders.
PYPL stock opened at $80.86 on Wednesday. Paypal Holdings Inc has a one year low of $42.06 and a one year high of $86.32. The company has a market capitalization of $96,372.85, a P/E ratio of 55.01, a PEG ratio of 2.65 and a beta of 1.25.
Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, January 31st. The credit services provider reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Paypal had a return on equity of 11.59% and a net margin of 13.71%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. equities analysts expect that Paypal Holdings Inc will post 1.73 EPS for the current year.
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Paypal Company Profile
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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